According to the World Gold Council report, total global gold demand in 2025 reached 5,002.3 tonnes, growing 1% year-on-year (yoy).
This demand stems from the jewelry manufacturing sector, technology, investment, central banks and other institutions, as well as over-the-counter (OTC) transactions and others.
Specifically for jewelry manufacturing, global gold demand in this sector has historically fluctuated during the 2010–2025 period.
The highest demand occurred in 2013, while the lowest took place in 2020, as shown in the graph.
Meanwhile, in 2025, global gold demand in the jewelry manufacturing sector totaled 1,648.1 tonnes, or 33% of the total demand across all sectors.
Despite having a significant share, the volume of demand in the jewelry manufacturing sector plummeted 19% (yoy) from 2,026.6 tonnes in 2024.
According to the World Gold Council, the decline in jewelry demand volume was fully expected amid gold prices continuing to set record highs in 2025.
“However, sentiment toward gold jewelry remains very positive, evidenced by the global demand value rising 18% to a record US$172 billion,” the World Gold Council explained.